I've been trying to get CLIs on my 3 Capital One cards without success. I know I could have contacted the EO but I didn't want to go through all that for cards I didn't care that much about. Two of the three cards were previously HSBC cards. Anyway, they kept telling me that my accounts were not eligible for an increase. These cards had rates from 17.90 - 27.74 with annual fees and NO rewards!
Since my CSP approval last week with a limit that was more than all 3 Cap One cards combined, I decided I would cancel them. I hadn't carried a balance with them in a few years, so that was no problem. (I used them all, though). I thought I'd try to keep the one with 17.9 APR if they would remove the annual fee permanently. They said they couldn't do that, so I cancelled all 3. If felt good Saturday morning and it feels great now! 
I have absolutely nothing against Capital one nor do I have any disagreement with their business model. I'm ever-conscious of the fact that when I make a request it can be approved or denied and I prepare myself accordingly. However, I feel I have too many decent cards to continue begging Capital One for anything.
Those who treat me as though my business matters will get my usage. Cap One was just not working for me. I'm LOVING my reward cards! Hopefully my CSP will be in today's mail.
P.S. LOL! The very first thing I did when I got off the phone with Capital One after cancelling the cards, was to sign in here and update my signature. i couldn't wait to remove them. LOL!
@SpiceIslander wrote:I've been trying to get CLIs on my 3 Capital One cards without success. I know I could have contacted the EO but I didn't want to go through all that for cards I didn't care that much about. Two of the three cards were previously HSBC cards. Anyway, they kept telling me that my accounts were not eligible for an increase. These cards had rates from 17.90 - 27.74 with annual fees and NO rewards!
Since my CSP approval last week with a limit that was more than all 3 Cap One cards combined, I decided I would cancel them. I hadn't carried a balance with them in a few years, so that was no problem. (I used them all, though). I thought I'd try to keep the one with 17.9 APR if they would remove the annual fee permanently. They said they couldn't do that, so I cancelled all 3. If felt good Saturday morning and it feels great now!
I have absolutely nothing against Capital one nor do I have any disagreement with their business model. I'm ever-conscious of the fact that when I make a request it can be approved or denied and I prepare myself accordingly. However, I feel I have too many decent cards to continue begging Capital One for anything.
Those who treat me as though my business matters will get my usage. Cap One was just not working for me. I'm LOVING my reward cards! Hopefully my CSP will be in today's mail.
P.S. LOL! The very first thing I did when I got off the phone with Capital One after cancelling the cards, was to sign in here and update my signature. i couldn't wait to remove them. LOL!
The EO would have got you better results without much hassle. However, if they're not longer necessary and you've outgrown them, good for your for closing them!
I just closed a CapOne card today myself. Was stuck at a 500.00 limit and going nowhere. I was a little suprosed they did not even try to get me to stay or even ask me why I was closing it. Did the same with jumping on and updating my sig!
that is a GREAT feeling isn't it Spiceislander!!! Congrats!
Capital One serves a purpose for people who are rebuilding. Once that time is through, it's time to move on. Congrats!
Starting Score: TU: 566
Felt the same way when I closed mt USAA cards. Despite popular opinion here my CS didn't decrease and I had three fewer cards (that weren't that good) to worry about. Normally I'm not for closing credit cards but if there is an annual fee, onerorous terms or very low credit limits with only HP CLI I say just close them. Especially if you have better cards and a longer credit file.
@longtimelurker wrote:
@lithium78 wrote:Capital One serves a purpose for people who are rebuilding. Once that time is through, it's time to move on. Congrats!
And serves a purpose for people with good/excellent credit (e.g. Quicksilver). The problem seems to come in the transition if you start as a rebuilder, Cap One can't handle your evolving credit status!
I have heard that Quicksilver is a good card, but unfortunately Cap1 would want to pull all three credit bureaus if I wanted a PC, so instead other companies get my business. Cap1 just isn't a very intelligent company.